The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1887-05-25
CHARTER
OF THE
RAPIDES COMPRESS COMPLY
STATE OF LOUISIANA,
PARISH or RAprDES

. STATE OF LOUISIANA,
: PARISH OF RAPIDEs
+ DE IT KNOWN THAT ON THIS TIL
a II eighteenth day of April, Ammo Don,
d III eighteen hundred and eighty-scven, b,
d tore nle, George Q. Watts, Clerk and e,
n omclo Notary Public, in and for the Pal
a ism and State aforesaid, duly commission
n ca aud qualified according to law, and i
! inc presence OF the undersigned CONNIE
f .enI witnesses, personally came and ar
t Pearett Julius Levin, George w. Bolton
NoDert w: Bringhurst, Albert Pctteneill
Nooie l.. McGinnis and Louis V. Marye
residents OF this Parish and State. VIII
severaliy and jointly declared that avail
. i,ns themselves OF the provisions of tin
IaWs et the State of Louisiana relative t,
sne organization OF corporations, the,
nave formed and do by these present
iotM ana organize themselves into a cor
pofatlon and body polite in law for til,
purposes anu under the following stipula
'lohs, agreements and articles to-wit:-
: ANrlcLE l.. The name and title Of tli.
corporation shall be ''The Rapides Com
press Company" and by that name i
snail nave succession and corporate exis
oence LOT ana during the term of ninety.
1ine years from date hereof, unless soone,
uissoiVed, IN the manner hereinafter men.
.ioned. The legal domicil of this corpora.
.,oh shali be the City of Alexandra, in
Ine Farlsh OF Rapides, State of Louisiana.
~ snail nave power and authority to pur-
cnase ana convey both real and personal
property, and shall have corporate seal,
Of Directors. ~ -''.'
ART. 2 The objects and purposes of this
corporation arc hereby declared to be the
COMPRISING Of cotton for domestic aud
handling Of cotton. ~
ART. 8. The capital stock of this corpo-
ration is hereby fixed at thirty thonsand
dollars, to be divided into shares of TWEEN.
ty-fve dollars each, ten per cent Of which,
shall be paid at the time the subscrint;on
Is made, and the balance to he paid in in
ssaliments OF ten per cent at such times as
Tue board or Directors shall determine -
provided, however, that thirty days' no.
tice lie published by one insertion in one
vi tne city papers prior to the day Of pay
hhent and should any stakeholder fail to
pay any lnstallment as the same may be
called for, the Board of Directors Shall
nave the right to declare his stock, to-
getner with all payments made thereon,
tor1eited to and for the benefit of this cor
poratlon. The stock of this corporation
may be increased to fifty thousand dollars
ny majority vote OF the stockholders,
ana this corporation may begin opera.
lions when fifteen thousand dollars shall
have been subscribed.
ANr. =: Inc corporate powers Of this
cOrnOratiOn Sha1l In x,oskn.l
SIX Directors, composed of the stockhol-
ders OF this corporation to be elected an
huaily, four OF whom shall form quo
rum, and their acts shall he valid corpo-
rate acts, and no stakeholder shall be-
come director unless he holds in his own |
right four shares of the capital Stock
Lhe hrst Board Of Directors under this
cnaIter snail be:-Julius Levin, George
W. BORON, Robert W. Bringhurst, Albert
riettenglll, Noble l.. McGinnis and Louis
V. Marye, and they shall elect from
among their number President, and a
Vice President to act in the absence of the
resident, and shall appoint such other
Dthcers and employees as they may deem
proper to serve during their pleasure.
The aforesaid Board shall cOntinue to act
until the first annual election of Directors.
which shall take place OH the first Mon
lay in May, 1888. The present Board of
Directors shall at that time give notice in
'ne OF the City papers of said election by
'w0 publications, and at the said election
II Directors each and every share of stock
'hali be entitled to one vote, and every
'ockholder shall be entitled to vote in
person or by proxy, and all elections pro-
'lded for by this charter shall be by bal
OF: Tbs said Board Of Directors shall |
make such bylaws and rules and regula- !
,Ous as they may think proper, and in
ne event OF any vacancy in the said
soard from death Or otherwise, the Dlrec- ,
ors shall elect one of the stockholders to
II the vacancy.
ART. 5. The President of this CORPORA
ion shall be the proper officer upon whom
ltation shall be served, or in his absence, =
pom the Vice-P President.
ART. 6. This corporation shall have the t
over and authority to contract, sue and t
sued under its corporate name, and to t
lortgase and hypothecate under It's cor
crate name property both real and per j
NAL, and shall have and enjoy all the c
Ilvlieges incident to corporations Of its '
ature in this State. "
ART. z. No stakeholder shall be held G
able for the faults, obligations or con- q
acts OF this corporation for any greater G:
mount than the unpaid balance due to RI
e corporation Oh his stock.
ART. 3. This corporation may be dis "
lved by atwo-tliirds vote of its stock ="
'lders as represented by the capital Of
Dck, and it shall than be liquidated by A
rec commissioners to be- chosen from CT
sald stockholders at special election y